Intech Investment Management LLC Buys Shares of 6,859 Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Intech Investment Management LLC bought a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,859 shares of the company’s stock, valued at approximately $279,000.

Other large investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group during the 3rd quarter valued at about $41,000. Amalgamated Bank grew its stake in shares of Skyward Specialty Insurance Group by 27.7% in the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after purchasing an additional 279 shares during the last quarter. CWM LLC grew its stake in shares of Skyward Specialty Insurance Group by 3,103.1% in the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after purchasing an additional 4,003 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 2nd quarter worth approximately $160,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Skyward Specialty Insurance Group by 67.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after purchasing an additional 2,270 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Activity

In related news, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares in the company, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.01% of the stock is owned by corporate insiders.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD opened at $54.93 on Thursday. The stock has a market cap of $2.20 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.98 and a beta of 0.76. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $29.40 and a fifty-two week high of $54.93. The stock’s 50-day moving average is $46.95 and its two-hundred day moving average is $40.98.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. The business had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period in the previous year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SKWD. Raymond James lifted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Piper Sandler lifted their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. William Blair initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating on the stock. Barclays upped their price target on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.89.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.